IN BRIEF: React shares up as sees sales and earnings ahead of forecast
React Group PLC - Birmingham, England-based provider of cleaning and soft facilities management services - Expects revenue of GBP25.0 million for the financial ended September, up 21% from GBP20.7 million the year prior and gross profit of GBP8.0 million, up 40% from GBP5.7 million a year ago. Projects adjusted earnings before interest, tax, depreciation and amortisation of at least GBP3.0 million, up 25% from GBP2.4 million last time. React notes these results are ahead of prior market expectations for revenue and adjusted Ebitda of GBP24.50 million and GBP2.75 million respectively. Sales are driven by continued momentum across core service lines and the contribution from the acquisition of 24 hour Aquaflow, while profit reflects improved operational efficiency and a diversified service mix, React says. Read More